The sports shoe and clothing maker said its earnings fell 69 percent in the quarter ending 28 February, and outlined its plans to get back on its feet: 1,600 job cuts, half in the United States, along with a one-third cut in its marketing budget. The company blames the Asia crisis for its troubles, but analysts also cite extravagent prices, tired ads, and inventory miscalculations.
Nike Can
The sports shoe and clothing maker said its earnings fell 69 percent in the quarter ending 28 February, and outlined its plans to get back on its feet: 1,600 job cuts, half in the United States, along with a one-third cut in its marketing budget. The company blames the Asia crisis for its troubles, but analysts also cite extravagent prices, tired ads, and inventory miscalculations.
